Bank of America Increases Accenture (NYSE:ACN) Price Target to $186.00

Accenture (NYSE:ACN) had its price target upped by Bank of America from $182.00 to $186.00 in a research note released on Thursday, June 20th, BenzingaRatingsTable reports. Bank of America currently has a neutral rating on the information technology services provider’s stock.

A number of other research analysts also recently weighed in on ACN. Wells Fargo & Co reissued a hold rating on shares of Medidata Solutions in a research note on Thursday, June 13th. Cantor Fitzgerald lifted their price target on Accenture from $185.00 to $199.00 and gave the stock an overweight rating in a research report on Friday, March 29th. Credit Suisse Group set a $170.00 price target on Accenture and gave the stock a hold rating in a research report on Tuesday, April 9th. Berenberg Bank raised easyJet to a hold rating in a research report on Monday, April 1st. Finally, BMO Capital Markets lifted their price target on Accenture to $185.00 and gave the stock a market perform rating in a research report on Friday, March 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Accenture currently has a consensus rating of Buy and a consensus price target of $191.13.

Shares of ACN traded up $1.54 during midday trading on Thursday, reaching $196.21. 2,059,364 shares of the stock were exchanged, compared to its average volume of 1,983,233. Accenture has a 12-month low of $132.63 and a 12-month high of $196.23. The business has a 50 day simple moving average of $184.34. The firm has a market cap of $131.85 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.04. Accenture had a return on equity of 36.24% and a net margin of 10.93%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period last year, the business earned $1.79 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that Accenture will post 7.33 EPS for the current year.

In related news, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $186.35, for a total value of $372,700.00. Following the completion of the sale, the insider now owns 77,240 shares in the company, valued at $14,393,674. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider ‘T Noordende Alexander M. Van sold 8,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $177.78, for a total value of $1,422,240.00. Following the completion of the sale, the insider now owns 116,753 shares of the company’s stock, valued at approximately $20,756,348.34. The disclosure for this sale can be found here. In the last three months, insiders sold 65,823 shares of company stock worth $11,734,229. Insiders own 0.18% of the company’s stock.

A number of large investors have recently bought and sold shares of ACN. Valley National Advisers Inc. grew its stake in Accenture by 70.2% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 73 shares during the period. Lenox Wealth Advisors LLC boosted its position in shares of Accenture by 297.1% during the second quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock worth $25,000 after buying an additional 101 shares during the period. Truvestments Capital LLC acquired a new position in shares of Accenture during the first quarter worth about $27,000. Financial Gravity Wealth Inc. acquired a new position in shares of Accenture during the first quarter worth about $30,000. Finally, Semmax Financial Advisors Inc. acquired a new position in shares of Accenture during the first quarter worth about $32,000. 69.24% of the stock is owned by hedge funds and other institutional investors.

Accenture Company Profile

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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